PREMIER Ted Baillieu has told Parliament that footage of Liberal MP Geoff Shaw making a hand gesture is ''inconclusive'', despite the footage showing the embattled MP making a lewd signal.

Vision from Wednesday's sitting at which Mr Shaw is accused of yelling ''wankers'' at Labor and making a hand gesture, made public late yesterday afternoon, and it shows Mr Shaw making a pumping action with his hand.

The poor-quality audio on the brief footage from the lower house sounds like Mr Shaw yelling ''wankers'', as Labor alleges, rather than ''whackers'', as he claims.

The Frankston MP - whose misuse of his parliamentary car has been referred to the privileges committee - has denied making the gesture, saying he was pointing at the opposition.

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The public relations disaster for the Premier came as a Newspoll found his government would be dumped from office if an election were held now. It showed Labor had a 55-45 two-party preferred vote.

But Mr Baillieu has a 39 per cent to 30 per cent lead over Labor's Daniel Andrews as preferred premier, though Mr Andrews has continued to reduce the gap.

Politicians yesterday viewed Wednesday's footage and at 2pm it was shown to the press gallery, with Mr Baillieu saying it was ''inconclusive''.

During question time, the opposition quizzed the Premier about the video, asking what specifically he thought was inconclusive, the hand gestures or the words, or both. ''I viewed the footage on three occasions,'' Mr Baillieu said. ''It is an extraordinarily brief piece of footage … and as I said I was unable to reach a conclusion.''

After Labor asked why the government thought it was appropriate that politicians and journalists see the vision but not all Victorians, Speaker Ken Smith announced that it would be made public.

Earlier the Premier said on radio he accepted the word of Liberal MPs who said Mr Shaw had used the word ''whackers''.

At the request of Deputy Opposition Leader James Merlino, Mr Smith on Wednesday asked staff to find the section of video where Mr Shaw is believed to have yelled and made the gesture.

Mr Merlino was adamant Mr Shaw said ''wanker'' and that his gesture simulated masturbation, while Mr Andrews said: ''The tape, the vision which does not lie, is completely at odds with the version of events put forward by the member for Frankston.''

Former Liberal premier Jeff Kennett said Mr Shaw would be a ''goose'' if he did lie about the offensive word and gesture and should apologise if the footage contradicted his denial.

Mr Baillieu, asked on ABC radio by Jon Faine if he was confident he would lead the Liberal Party to the next election, refused to answer directly, saying only that ''I'm very confident, Jon, that we're heading - that we're doing exactly what we need to do.''

The Age contacted Mr Shaw's office for comment yesterday afternoon but did not receive a response.